solving stochastic differential equations and analysing martingale processes no longer enough ?

[avinash]

A mathematican recently said that Mathematical finance has been concentrating on Stochastic differential equations and martingale processes for for quite a while but this is not viable anymore. Do you folks agree or not with this ?

 

[alain]

Did he/she propose something else?

 

[avinash]

Did he/she propose something else?

I'm not sure actually..I just stumbled upon this somewhere..don't remember the original source..but as an aspiring quant i thought this could start up an interesting discussion between some of the more experienced quants on this forum.